Oscars fever is underway in Hollywood – but who’ll be taking home a golden statuette this year?

It’s time for the A-list to dust down their very best outfits and make for the red carpet for this year’s Oscars – but will it be Argo or Lincoln that takes home the gold? Follow all the action in our live blog.

So it’s finally here. After what seems like endless weeks of stars waving happily on red carpets, donning an array of different designer outfits and winning an assortment of trophies (which they all claim to have been surprised by), it’s time for the big one – the Academy Awards. Yup, it’s time for that coveted golden guy to make his annual appearance, as once again the cream of the Hollywood crop are rewarded for doing what they do best.

And this year’s is promising some fierce competition as Ben Affleck’s Argo and Steven Spielberg’s Lincoln prepare to go head to head for the coveted best picture prize. While Argo has pretty much swept the board in all the preliminary awards ceremonies – including its recent Bafta – Lincoln is a similarly fancied bet for the top prize, with Spielberg also in line for yet another best director award after Affleck missed out on a nomination.

It could also be a good night for the Brits, with Daniel Day-Lewis so strongly tipped to win the best actor prize for Lincoln that it’s a wonder any of the other nominees are bothering to show up – while Adele could also be taking home an Oscar for her theme from Skyfall, which she will perform during a tribute to 007.

And while some categories seem similarly predictable – can anyone really beat Anne Hathaway to the best supporting actress prize, for example? – others seem harder to call. Will best actress, for example, go to Jessica Chastain or Jennifer Lawrence? Best supporting actor to Christoph Waltz or Tommy Lee Jones? Frankly we’re baffled.

But whoever wins and whoever goes home empty-handed, host Seth MacFarlane will be on hand to ensure that the evening is far from dull – or even the wee small hours, for those dedicated souls staying up till dawn to watch it in the UK. So grab yourself some sustaining snacks and a pot of coffee, and make sure you don’t miss a minute of the action with our live blog. And no nodding off now…